About Narmi
Narmi is a company based in New York (United States) founded in 2016 by Chris Griffin. It operates as a SaaS (Software-as-a-Service), API-as-a-Product, and FinTech. Narmi has raised $57.34 million across 5 funding rounds from investors including Techstars, Greycroft and NEA. The company has 89 employees as of December 31, 2022. Narmi offers products and services including Narmi Banking, Narmi Grow, Narmi Command, Narmi Now, and Narmi Guard. Narmi operates in a competitive market with competitors including Amount, MANTL, Tyfone, Asseco and Bankingly, among others.
- Headquarter New York, United States
- Employees 89 as on 31 Dec, 2022
- Founders Chris Griffin
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Narmi Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$57.34 M (USD)
in 5 rounds
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Latest Funding Round
$35 M (USD), Series B
May 19, 2022
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Investors
Techstars
& 6 more
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Employee Count
89
as on Dec 31, 2022
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Products & Services of Narmi
Narmi offers a comprehensive portfolio of products and services, including Narmi Banking, Narmi Grow, Narmi Command, Narmi Now, and Narmi Guard. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Banking solutions are designed for modern life experiences.
Omnichannel solutions are provided for faster account opening.
Digital back-office operations are streamlined for better efficiency.
Real-time payments are enabled via FedNow Service integration.
Protection against fraud threats is offered through advanced tools.
API-driven platform is provided for customized banking innovation.
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Funding Insights of Narmi
Narmi has successfully raised a total of $57.34M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $35 million completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series B — $35.0M
- First Round First Round
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Series B - Narmi | Valuation | Greycroft , New Enterprise Associates |
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| Dec, 2020 | Amount | Series A - Narmi | Valuation | New Enterprise Associates | |
| Dec, 2018 | Amount | Seed - Narmi | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Narmi
Narmi has secured backing from 7 investors, including venture fund investors. Prominent investors backing the company include Techstars, Greycroft and NEA. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Multiple sectors are targeted for venture capital investments by Greycroft.
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Founded Year | Domain | Location | |
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Venture capital investments are offered to startups by NEA.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early stage healthcare, renewable energy, real estate, finance, and multiple businesses
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Narmi
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Narmi
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Narmi Comparisons
Competitors of Narmi
Narmi operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Amount, MANTL, Tyfone, Asseco and Bankingly, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Omnichannel banking solutions are provided for banks and lenders.
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| domain | founded_year | HQ Location |
MANTL is recognized for providing account origination software to banks and credit unions.
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| domain | founded_year | HQ Location |
Omni-channel banking solutions are provided for mobile financial services.
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| domain | founded_year | HQ Location |
Omnichannel banking solutions are provided for internet and mobile platforms.
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| domain | founded_year | HQ Location |
Cloud-based omnichannel banking solutions are provided to financial institutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Narmi
Frequently Asked Questions about Narmi
When was Narmi founded?
Narmi was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Narmi located?
Narmi is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Narmi a funded company?
Narmi is a funded company, having raised a total of $57.34M across 5 funding rounds to date. The company's 1st funding round was a Seed of $1.92M, raised on Apr 06, 2017.
How many employees does Narmi have?
As of Dec 31, 2022, the latest employee count at Narmi is 89.
What does Narmi do?
Innovative digital banking platforms are developed by Narmi for financial institutions. Solutions are offered in areas such as consumer and business banking, account opening, real-time payments, fraud prevention, and back-office efficiency. Integration with leading core banking systems is supported to enhance digital capabilities. The focus is placed on delivering user-friendly experiences and API-driven open platforms for customized innovation in the fintech sector.
What products or services does Narmi offer?
Narmi offers Narmi Banking, Narmi Grow, Narmi Command, Narmi Now, and 2 more products and services.
Who are Narmi's investors?
Narmi has 7 investors. Key investors include Techstars, Greycroft, NEA, Picus Capital, and Patriot Financial Partners.
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